Seagate Technology PLC (STX) Insider Buys $33,340.00 in Stock
Seagate Technology PLC (NASDAQ:STX) insider Philip G. Brace bought 1,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was purchased at an average cost of $33.34 per share, for a total transaction of $33,340.00. Following the acquisition, the insider now directly owns 62,855 shares of the company’s stock, valued at approximately $2,095,585.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Seagate Technology PLC (NASDAQ STX) traded up 0.45% during trading on Thursday, reaching $33.57. The company had a trading volume of 4,934,872 shares. The stock has a 50 day moving average price of $38.76 and a 200 day moving average price of $43.35. The firm has a market capitalization of $9.80 billion, a price-to-earnings ratio of 13.01 and a beta of 1.69. Seagate Technology PLC has a 12 month low of $30.09 and a 12 month high of $50.96.
Seagate Technology PLC (NASDAQ:STX) last issued its quarterly earnings results on Tuesday, July 25th. The data storage provider reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by $0.34. Seagate Technology PLC had a net margin of 7.17% and a return on equity of 81.87%. The business had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter in the prior year, the firm posted $0.69 EPS. The business’s quarterly revenue was down 9.3% compared to the same quarter last year. On average, equities research analysts predict that Seagate Technology PLC will post $3.70 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Wednesday, September 20th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 19th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 7.51%. Seagate Technology PLC’s dividend payout ratio is 97.67%.
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Several hedge funds and other institutional investors have recently modified their holdings of the stock. Winslow Evans & Crocker Inc. increased its position in shares of Seagate Technology PLC by 12.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 2,726 shares of the data storage provider’s stock worth $125,000 after buying an additional 300 shares during the period. Visionary Asset Management Inc. increased its position in shares of Seagate Technology PLC by 1.3% in the first quarter. Visionary Asset Management Inc. now owns 89,162 shares of the data storage provider’s stock worth $4,095,000 after buying an additional 1,137 shares during the period. Bank of Montreal Can increased its position in shares of Seagate Technology PLC by 4.1% in the first quarter. Bank of Montreal Can now owns 1,609,469 shares of the data storage provider’s stock worth $73,923,000 after buying an additional 63,627 shares during the period. Legacy Private Trust Co. purchased a new position in shares of Seagate Technology PLC during the first quarter worth approximately $214,000. Finally, Creative Planning increased its position in shares of Seagate Technology PLC by 8.1% in the first quarter. Creative Planning now owns 46,180 shares of the data storage provider’s stock worth $2,121,000 after buying an additional 3,449 shares during the period. Institutional investors and hedge funds own 86.54% of the company’s stock.
Several research firms have weighed in on STX. Cowen and Company reissued a “market perform” rating and issued a $45.00 target price (down previously from $46.00) on shares of Seagate Technology PLC in a report on Wednesday, April 26th. Susquehanna Bancshares Inc reissued a “neutral” rating on shares of Seagate Technology PLC in a report on Wednesday, April 12th. Longbow Research raised Seagate Technology PLC from a “neutral” rating to a “buy” rating and upped their target price for the company from $18.42 to $55.00 in a report on Tuesday, April 11th. BTIG Research reaffirmed a “buy” rating and set a $55.00 price objective on shares of Seagate Technology PLC in a research note on Thursday, April 6th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $45.00 price objective on shares of Seagate Technology PLC in a research note on Friday, June 9th. Four analysts have rated the stock with a sell rating, twenty-one have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $42.12.
About Seagate Technology PLC
Seagate Technology public limited company is a provider of electronic data storage technology and solutions. The Company’s principal products are hard disk drives (HDDs). In addition to HDDs, it produces a range of electronic data storage products, including solid state hybrid drives, solid state drives, peripheral component interconnect express (PCIe) cards and serial advanced technology architecture (SATA) controllers.
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